Earn While Learning Web3 Programming>> Start Here FREE!!!
EXERCISE: :
i. Watch the above lesson video and also read through the recommended resources. Then, answer the following questions
ii. How To Earn Unlock Discount Token (UDT) Free?
iii. Summarize in your own word in this forum below:
(NOTE: please, don't just copy-paste from other students - instead answer in your own word based on your level of understanding the lesson and resources)
NOTE:
This Is An Exercise From Our FREE COURSE with CERTIFICATION:
(If you have not enrolled yet, you can join the course totally for FREE).
UDT is generated each time a KEY (Membership as NFT) to a LOCK (Smart Contract) is purchased
UDT is then granted as a reward to the creator of the purchased KEY(s)
The UDT reward is divided between 2people (The Referrer/key creator and the Unlock Protocol Developer Team) at a rate of 80%(creator) to 20%(devs)
To avoid manipulation and self-referral, UDT granted is based on some complex mathematical calculations using
- the amount of gas used to purchase KEY (mint membership NFT)
- number of KEYS purchase (sold)
- Oracle (like Uniswap ETH/UDT price at the time of purchase)
- and a lot more - read about in recommended resources below
unlock discount token (UDT) is generated or eraned when an access KEY is purchased, and the mingted UDT is devided into two 20% for the unlock developer to maintain and fund the project and 80% to the developer as a reward